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CONSOLIDATED AND COMBINED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
OPERATING ACTIVITIES      
Net income (loss) $ 331 $ 170 $ 377
Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities:      
Depreciation, amortization and cost of timber harvested 143 154 192
Deferred income tax provision (benefit), net (6) (49) (7)
Stock-based compensation 14 15 19
Changes in operating assets and liabilities and other      
Accounts and notes receivable (118) 60 18
Inventories 19 71 (47)
Accounts payable and accrued liabilities 210 (46) (5)
Other (44) (16) (23)
CASH PROVIDED BY (USED FOR) OPERATING ACTIVITIES 549 359 524
INVESTMENT ACTIVITIES      
Invested in capital projects (76) (75) (118)
Cash pool arrangements with Parent 202 (5) (39)
Proceeds from sale of plants, properties and equipment 0 0 3
Other 1 1 (6)
CASH PROVIDED BY (USED FOR) INVESTMENT ACTIVITIES 127 (79) (160)
FINANCING ACTIVITIES      
Net transfers (to) from Parent (456) (340) (369)
Special payment to Parent (1,520) 0 0
Issuance of debt 1,501 0 0
Reduction of debt (130) (10) (18)
Other 16 0 0
CASH PROVIDED BY (USED FOR) FINANCING ACTIVITIES (589) (350) (387)
Effect of Exchange Rate Changes on Cash (2) 30 (17)
Change in Cash and Temporary Investments 85 (40) (40)
Beginning of the period 95 135 175
End of the period $ 180 $ 95 $ 135